Puravankara Unveils Major Residential Project as Part of 15 Million Sq Ft Pipeline
Chettinad Cement and JK Lakshmi in Race to Acquire Deccan Cements
Kochi two prominent cement manufacturers, JK Lakshmi Cement and Chettinad Cement, are reportedly bidding to acquire Telangana-based Deccan Cements. This move comes as a state-driven infrastructure boom in neighboring Andhra Pradesh fuels significant demand for regional suppliers of cement, a freight-heavy building material. Deccan Cements, which anticipates an operational capacity of 4 million tonnes by the end of this year, is seeking an enterprise value of $360 million (₹3,110 crore) for the company, translating to approximately $90 per tonne of capacity, attracting keen interest from major players in the consolidated Indian cement sector.
Deccan Cements’ plants are strategically located on the outskirts of Vijayawada, Andhra Pradesh’s second-largest city, although its corporate headquarters are in Hyderabad. The company is currently spearheaded by a female leader. Reports suggest that Deccan Cements has engaged EY for a potential sale, indicating a structured process for the acquisition. The ongoing infrastructure boom is particularly driven by the development of Andhra Pradesh’s new capital city, Amaravati, for which the Centre has unveiled projects worth ₹50,000 crore, ensuring sustained high demand for construction materials in the region.
Replacement valuations in India’s regionally segmented cement industry show wide variations, with greenfield expansions often exceeding $100 per tonne. However, valuations in southern India tend to be more reasonable due to lower capacity utilization and naked cement realization (NCR) on each tonne sold. While Delhi-based JK Lakshmi Cement currently lacks a manufacturing presence in Andhra Pradesh or Telangana, Chennai-based Chettinad Cement already boasts manufacturing facilities in both states, giving it a potential strategic advantage in the bidding process.
Shares of Deccan Cements have seen a significant surge in 2025, climbing by nearly 66% and hitting a lifetime high of ₹1,125 earlier this month. Despite this stock performance, the company has experienced a steady decline in profits since 2021, with its full-year profit for fiscal year 2025 standing at a mere ₹8 crore on sales of ₹527 crore. Its earnings before interest, tax, depreciation, and amortisation (EBITDA) per tonne of cement produced was ₹489 in fiscal year 2023-24, significantly lower than the industry average EBITDA of ₹900-1200 per tonne, with industry watchers noting the scale benefits enjoyed by larger players.
India’s cement sector has witnessed robust consolidation since fiscal 2023, predominantly in the southern markets, which account for almost one-third of the country’s total production. This heightened demand and ongoing consolidation signal an active acquisition landscape.
Also Read: Mumbai Sri Lotus Developers to Launch Rs792 Crore IPO Next Week Backed by Bollywood Stars
Chettinad Cement and JK Lakshmi in Race to Acquire Deccan Cements
Mumbai Sri Lotus Developers to Launch Rs792 Crore IPO Next Week Backed by Bollywood Stars
Mumbai-based Sri Lotus Developers and Realty Ltd, a firm with backing from prominent Bollywood figures including Shah Rukh Khan’s family trust, Amitabh Bachchan, and Hrithik Roshan, alongside investor Ashish Kacholia, is set to launch its Initial Public Offering (IPO) next week. The company aims to raise approximately ₹792 crore through this fresh issue of shares. The funds generated from the IPO are primarily intended to finance three of its ongoing real estate projects in Mumbai, solidifying its presence in the city’s lucrative luxury and ultra-luxury property segments.
The IPO, which is a book-building issue, will open for subscription on July 30, 2025, and close on August 1, 2025, with the price band set at ₹140 to ₹150 per equity share. The company’s strategy focuses on prime Mumbai localities, specializing in the redevelopment of old buildings to deliver high-end apartments. These luxury residences are typically priced between ₹10 crore and ₹50 crore, catering to an exclusive clientele. As of June 30, 2025, Sri Lotus Developers had completed 0.93 million square feet of developable area, encompassing both residential and commercial assets, with a robust future pipeline exceeding 1.8 million square feet across various stages of development.
The company’s extensive portfolio includes four completed projects, five ongoing developments, and 11 upcoming ventures located in sought-after areas such as Andheri, Juhu, Bandra, and South Mumbai. Sri Lotus Developers also plans to expand its reach further into South and Central Mumbai locations like Nepean Sea Road and Prabhadevi, as well as eastern suburbs including Ghatkopar. The proceeds from the IPO, specifically ₹550 crore, are earmarked for investment in its subsidiaries—Richfeel Real Estate Private Limited, Dhyan Projects Private Limited, and Tryksha Real Estate Private Limited—to part-fund the development and construction costs of three specific ongoing projects: Amalfi, The Arcadian, and Varun.
The firm’s focus primarily revolves around ultra-luxury residential and commercial properties, offering a range from 2BHK and 3BHK flats to larger 3BHK, 4BHK, and 4+ BHK flats and penthouses. The company’s Chairman and Managing Director emphasized their commitment to the luxury and ultra-luxury segments, stating that the IPO listing would add significant brand value. The company’s Bollywood connection runs deep, with Amitabh Bachchan and the Shah Rukh Khan Family Trust having previously invested approximately ₹10 crore each in a private placement round in December 2024.
This strategic public offering marks a significant step for Sri Lotus Developers, leveraging its strong market position and high-profile investor backing to fuel its expansion in Mumbai’s luxury real estate market. The move is expected to enhance its brand presence and provide the necessary capital for its ambitious project pipeline.
Also Read: Noida IT Plot Project Gets Boost With Adani Subsidiary Development Deal
Mumbai Sri Lotus Developers to Launch Rs792 Crore IPO Next Week Backed by Bollywood Stars
Noida IT Plot Project Gets Boost With Adani Subsidiary Development Deal
A major infrastructure shift is underway in Noida as the development of a 10-acre IT complex in Sector 159 gains momentum. The plot, originally allotted to a leading fintech firm in 2018, will now be developed by a subsidiary of a prominent Indian conglomerate. Officials announced that the group’s infrastructure wing has been tasked with engineering, procurement, and construction responsibilities, bringing fresh clarity and structure to a previously delayed project. This move not only revives a crucial real estate parcel in Noida’s tech corridor but also signals renewed collaboration between public authorities and private developers.
The shift in project stewardship is expected to accelerate construction, as the developer brings proven expertise in large-scale commercial infrastructure. According to officials, the decision to appoint the subsidiary was taken following prolonged delays in capital mobilisation under the earlier arrangement. By involving a private entity with financial and technical capacity, the project aims to meet pending timelines while maintaining standards aligned with Noida’s vision for a digitally powered urban economy. Sector 159, once an underutilised zone, is now seen as a future node for IT and IT-enabled services growth.
Urban development experts noted that the move could also positively influence surrounding areas, boosting employment and real estate activity. The project’s revival complements the region’s expanding metro access and existing social infrastructure, positioning Noida as a direct competitor to neighbouring tech hubs.
Analysts tracking Noida’s infrastructure push highlighted that bringing in private engineering leadership ensures greater accountability and pace, especially in light of missed deadlines that often hamper public-private ventures. With evolving demands for sustainable office spaces and hybrid digital ecosystems, Sector 159’s revival is being closely watched by both investors and urban planners. Residents and local trade bodies have welcomed the announcement, expecting the project to uplift regional amenities and transport links. Concerns around water, power, and traffic congestion have also resurfaced, prompting calls for holistic planning. Civic groups insist that while commercial growth is welcome, essential public services must keep pace with construction. Experts agree that if managed well, the IT complex could act as a catalyst for balanced, eco-sensitive development.
The involvement of a reputed infrastructure group could improve transparency, provided the project adheres to green building norms and equitable land use practices. As Noida Authority aims to transform peripheral sectors into economic engines, this development sets a precedent for responsibly reactivating delayed urban projects. While the initiative promises jobs and economic vitality, it also brings a renewed responsibility to align private ambition with public interest. Officials confirmed that monitoring mechanisms would be reinforced to ensure adherence to environmental norms and project timelines, creating a replicable model for other dormant city plots. In a region grappling with uneven urbanisation, the Sector 159 initiative may serve as a benchmark for sustainable, high-impact development.
Noida IT Plot Project Gets Boost With Adani Subsidiary Development Deal
India Government Steps Up Steel Sector Support and Recycling Push
India’s government is actively enhancing its support for the steel sector and accelerating its push towards a circular economy through various policy interventions. As steel remains a de-regulated industry, the government acts primarily as a facilitator, crafting a policy environment conducive to its sustainable growth and increased domestic production. Recent measures include promoting ‘Made in India’ steel, reducing input costs for manufacturers, and stringent quality controls. These efforts are aimed at bolstering the industry’s competitiveness while simultaneously addressing environmental concerns through robust recycling frameworks.
Several key initiatives have been undertaken to achieve these objectives. The Domestically Manufactured Iron & Steel Products (DMI&SP) Policy encourages the use of ‘Made in India’ steel in government procurement. To further boost domestic production and reduce reliance on imports, the Production Linked Incentive (PLI) Scheme for Specialty Steel has been launched, attracting crucial capital investments. The Union Budget’s strong focus on infrastructure expansion has also played a significant role in driving domestic steel demand. Additionally, adjustments in Basic Customs Duty on ferro nickel and ferrous scrap imports have helped lower production costs for the industry, making it more competitive.
On the regulatory front, the Steel Import Monitoring System (SIMS) has been revamped to provide detailed import data, assisting industry stakeholders in strategic planning. Steel Quality Control Orders have also been introduced, effectively banning sub-standard or defective steel products in both domestic markets and imports, thereby ensuring the availability of high-quality steel for various applications. These measures collectively aim to create a more robust and transparent steel ecosystem within the country, ensuring the quality and availability of materials essential for national growth and development.
On the sustainability front, the government is vigorously promoting circular economy practices across the steel industry to maximize scrap recycling and minimize environmental impact. The Steel Scrap Recycling Policy (2019) provides a collaborative framework among various ministries to enhance the recycling of ferrous scrap from diverse sources. Furthermore, the Vehicle Scrapping Policy, formulated by the Ministry of Road Transport and Highways (MoRTH), actively promotes the phasing out of older, polluting vehicles. It outlines comprehensive rules for the Registration and Functioning of Vehicle Scrapping Facilities (RVSFs), ensuring proper depollution and material recovery from End-of-Life Vehicles (ELVs).
Further reinforcing this commitment, the Ministry of Environment, Forest & Climate Change introduced the Environment Protection (End-of-Life Vehicles) Rules, 2025, mandating Extended Producer Responsibility (EPR) and setting specific scrapping targets for vehicle producers. Additionally, the Ministry of Shipping, Ports and Waterways has notified the Recycling of Ships Act, 2019, to promote safe and environmentally sound ship recycling practices. This comprehensive approach, as conveyed by a Minister of State, underscores the government’s dedication to sustainable growth in the steel sector.
Also Read: Kochi Construction Begins on Homes for 197 Families Under LIFE Mission
India Government Steps Up Steel Sector Support and Recycling Push
Kochi Construction Begins on Homes for 197 Families Under LIFE Mission
Kochi construction work has officially begun on a vital redevelopment project in Shanthipuram Colony, located in the 44th division of the Kochi Municipal Corporation. This initiative aims to replace unsafe and aging homes with modern apartment-style housing units for 197 beneficiary families. These new residences are being constructed using the “Pocket Homes” model, which involves building compact clusters of eight residential units per block on 0.75-cent plots allotted to each family, optimizing space and promoting community engagement.
Each housing unit in this project is estimated to cost around ₹10 lakh. Of this, ₹4 lakh per unit is being provided by the Kerala state government under its flagship LIFE (Livelihood Inclusion and Financial Empowerment) Mission scheme, a comprehensive housing campaign. To cover the remaining financial gap for the project, the Kochi Corporation has successfully mobilized Corporate Social Responsibility (CSR) funds. Notably, BPCL Kochi Refinery has extended financial assistance amounting to ₹1 crore, while Sobha Group has contributed ₹50 lakh. A significant aspect of this project is that each beneficiary will receive a registered title deed for their land, ensuring long-term security and formal ownership for the families.
The redevelopment project is being executed with technical support from the Architecture Engineering College, which is run by the Azadi Group. This firm has a track record of being active in community-focused infrastructure development throughout Kerala. Phase I of the project includes the construction of 16 homes, marking a significant initial milestone in the Kochi Corporation’s broader effort to revitalize vulnerable housing clusters within the city. This phased approach allows for gradual progress and demonstrates commitment to the beneficiaries.
In addition to these new housing constructions, the Shanthipuram area has already benefited from earlier infrastructure improvements. These prior works include the establishment of proper drainage lines and the construction of new roadways, funded under local development projects and ward-level schemes. These crucial improvements have effectively laid the necessary groundwork for the successful implementation of the current redevelopment plan. The colony, which had previously been classified under Kochi’s list of unsafe dwellings, is now set for a complete transformation into a safe, modern, and inclusive neighborhood, significantly improving living conditions for its residents.
Also Read: Global Ceiling Tiles Market Poised for Significant Growth Driven by Automation and Sustainable Design
Kochi Construction Begins on Homes for 197 Families Under LIFE Mission
Global Ceiling Tiles Market Poised for Significant Growth Driven by Automation and Sustainable Design
The global ceiling tiles market is poised for substantial expansion, with projections indicating a rise from an estimated USD 9,100 million in 2025 to USD 16,530 million by 2035, expanding at a Compound Annual Growth Rate (CAGR) of 6.0%. This robust trajectory is primarily fueled by increasing industrial automation, a heightened focus on aesthetic and acoustic solutions, and the accelerating adoption of sustainable building practices across residential, commercial, and institutional sectors worldwide.
The ongoing wave of urbanization and escalating infrastructure spending globally is fueling a strong demand for modern construction materials. Ceiling tiles are emerging as indispensable components, with growing awareness of their crucial role in noise insulation, indoor comfort, and sustainable design. This is prompting builders and architects to prioritize ceiling systems that offer both functional benefits and visual appeal. Demand is particularly strong in commercial spaces such as offices, retail outlets, hospitals, and educational institutions, where these tiles contribute to thermal efficiency, noise control, and adherence to contemporary design standards.
Manufacturers are increasingly concentrating on sustainability, offering innovative ceiling tiles crafted from environmentally friendly, recyclable, and sustainable raw materials. Features such as fire resistance, moisture resistance, and ease of installation are now standard market expectations. The future of this market will be shaped by trends like smart building development, the integration of advanced acoustic technologies, and the rising prominence of green building certifications. This emphasis on energy conservation will continuously spur innovation in ceiling tile solutions.
Asia-Pacific stands out as the fastest-growing region, propelled by rapid urban growth and booming commercial property development, with India emerging as a high-growth hub. Mineral fiber ceiling tiles are estimated to hold a dominant market share, while suspended ceiling installation remains preferred. The market, though competitive, is capitalizing on green building initiatives and acoustic innovations, solidifying ceiling tiles as a crucial feature in modern construction.
Also Read: Berger Paints India Prioritizes Sustainable Growth Fortifying Core Segments
Global Ceiling Tiles Market Poised for Significant Growth Driven by Automation and Sustainable Design
Berger Paints India Prioritizes Sustainable Growth Fortifying Core Segments
Berger Paints India Ltd., a leading paint company in the nation, has affirmed its strong commitment to sustainable growth, customer satisfaction, and technological advancements amidst an increasingly competitive industry landscape. Despite macroeconomic challenges, the company reported a resilient performance for the fiscal year 2024-25, demonstrating growth in both total income and profit after tax. Company officials expressed optimism regarding future consumer demand and the accelerated adoption of digital practices.
The paint industry is experiencing heightened competition with new entrants and ongoing consolidation in the estimated ₹1 lakh crore market. Addressing shareholders in the company’s latest annual report, the Chairman outlined a growth strategy centered on deeper customer alignment, technology-led transformation, and a continuous focus on innovation and sustainable expansion. The company emphasized its dedication to long-term value creation rather than pursuing market share through unsustainable tactics.
The vision articulated is for the company to become “the most admired Indian paint & coating solutions company with globally recognized innovations and competencies,” while also re-examining opportunities within its traditional core segments for enhanced value. The Managing Director and CEO highlighted the company’s robust performance in 2024-25, noting a 1.7% growth in total income from operations and a 6.2% increase in Profit After Tax (PAT). The decorative paints segment, contributing 80% of total revenues, achieved a 7.4% year-on-year volume growth. Furthermore, the company’s market share has steadily increased, reaching 20.3%.
This strategic focus on innovation, operational efficiency, and customer-centricity positions the company for continued leadership. By leveraging digital tools and fostering sustainable practices, the organization aims to meet evolving consumer demands, ensuring its ongoing success and impactful presence within the sector for years to come.
Also Read: India JK Lakshmi Cement Soars to 52 Week High Amidst Robust Financial Turnaround
Berger Paints India Prioritizes Sustainable Growth Fortifying Core Segments
India JK Lakshmi Cement Soars to 52 Week High Amidst Robust Financial Turnaround
India’s midcap cement powerhouse, JK Lakshmi Cement, has achieved a significant milestone with its stock price hitting a new 52-week high of ₹1020.85. This impressive upward trajectory reflects strong market confidence and the company’s robust financial performance. The stock has demonstrated consistent momentum, outperforming its sector by 0.76% and recording a 1.74% gain over the past two trading sessions, with an intraday surge of 2.88%.
The company’s financial health is notably strong, showcasing exceptional management efficiency with a Return on Capital Employed (ROCE) of 18.24%. Furthermore, JK Lakshmi Cement maintains a low debt-to-EBITDA ratio of 1.26 times, underscoring its solid ability to manage and service its debt obligations. Recent quarterly results have marked a positive turnaround, reversing a trend of three consecutive negative quarters. The latest reports indicate a substantial 24.9% growth in net sales, reaching ₹1,897.62 crore.
With a significant institutional holding of 37.31%, JK Lakshmi Cement is recognized by MarketsMojo as being among the top 1% of companies based on its strong fundamentals and market performance. Over the last year, the stock has delivered an impressive 18.54% return, considerably outperforming the broader Sensex, which saw a modest 2.21% increase during the same period. This strong performance positions JK Lakshmi Cement as a noteworthy player in the Indian cement sector.
Also Read: How Puranik Group Became the Face of Middle-Class Housing in Thanes Ghodbunder Corridor
India JK Lakshmi Cement Soars to 52 Week High Amidst Robust Financial Turnaround
How Puranik Group Became the Face of Middle-Class Housing in Thanes Ghodbunder Corridor
